NetSuite acquires tech firm Venda as European expansion continues

London-based tech company Venda has been acquired by NetSuite as the US firm continues to expand its business in Europe.

Published: 17:17:13 on the 17th Jul 2014Author: Ben Sillitoe

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US software business NetSuite has today (Thursday) announced the acquisition of London-based tech firm Venda.

More details of the financial aspects of the deal will be discussed in NetSuite's second-quarter sales update, next week, but the company has said that the takeover will help increase its presence in Europe as it continues to expand its global presence.

Zach Nelson, NetSuite CEO, said: "Venda pioneered the concept of bringing commerce to the cloud and their expertise in supporting the needs of companies throughout Europe is a perfect match for NetSuite as our customers begin to adopt our SuiteCommerce omnichannel platform around the globe."

Eric Abensur, CEO of Venda, added: "Venda has incredible technology, employees and customers. Combining those attributes with NetSuite's scale and leadership in cloud ERP and CRM technology, we are well positioned to meet the needs of our customers and execute on our vision of global commerce."